Industry funds attack banks on superBY DARREN SNYDER | MONDAY, 31 AUG 2015 12:55PMIndustry Super Australia has launched a series of advertisements putting their case ahead of proposals likely to change the way employer and employee default superannuation funds are selected. Related News |
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See Brad.
Someone is standing up for their members. Where was AFA when the banks pushed the individual small risk advice firms into possible liquidation?
I'll say one thing for the Unions, they wont take any backward steps.
Industry Funds such as Australian Super can no longer call themselves 'profit for members'. By selling SuperPartners to Link/AAS and outsourcing their administration to Link/AAS, then they have now become like any other retail super fund in Australia whereby the administration of the Fund is run for profit.
Any claim to be 'profit for member' is in my view misleading.